Inox Wind slips over 6% after 9.8% equity changes hands via block deals
Inox Wind block deals:Â Around 3.8 lakh crore shares changed hands which translates to 9.8 per cent equity shares.
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11:23 AM IST
Inox Wind block deals: Shares of Inox Wind, the wind energy company, slipped over 6 per cent in the morning deals on Tuesday, October 31, after multiple block deals took place during the opening session. Around 3.8 lakh crore shares changed hands, which translates to 9.8 per cent equity shares.
At around 9:55 a.m., shares of Inox Wind traded 4.61 per cent, or Rs 10.3 lower on BSE at Rs 213.3 apiece. The market capitalisation of the company stood at Rs 6,952.48 crore. The stock snapped a three-day winning streak.
Inox Wind reported on October 27 a consolidated net loss of Rs 26.84 crore, which was narrowed in the September quarter due to higher revenues. The consolidated net loss of the company stood at Rs 133.81 crore in the year-ago period, as per a BSE filing.
The total income from operations rose to Rs 384.4 crore during the quarter from Rs 111.89 crore logged in the same period a year ago.
The wind energy company said that the supply of 3.3 MW wind turbine generators (WTGs) is on track to commence within Q3 FY24. The company’s order execution stood at 143 MW in H1 FY24. The order book stands at 1,276 MW, across 2 MW and 3.3 MW WTGs.
“IWL raised around Rs 460 crore (net of taxes and fees) from the promoter stake sale and subsequent capital infusion into IWL in August 2023, strengthening the balance sheet,” the company said.
The company is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions from conception to commissioning to O&M.
IWL said that it is eyeing Operations and Maintenance (O&M) portfolio acquisition opportunities through its subsidiary, IGESL.
Inox Wind share price: Past performance
Since January 2023, shares of Inox Wind have gained over 96 per cent, outperforming the headline index's rise of over 5 per cent.Â
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